S. RAMANATHAN Vs. S. PANNALAL JAIN

JUDGEMENT

(1.) SUIT is for recovery of Rs.70,00,821 with interest at 36%.

(2.) SUIT is on pro -notes. The brief averments of the plaint is as follows:

(3.) ONE M/s Tatia Skyline and Health Farms Limited, a Company in which, the defendant was a Chairman, entered into a deed of licence dated 29.1.1993 with plaintiff's mother Mrs.Valiammal. This agreement relates to commercially exploiting the property of Mrs.Valiammal by putting up construction. After the execution of the said agreement, the defendant approached the plaintiff for funds and promised to return the same with 36% interest.